Consumers use cash to forget, study shows
Payments Dive
MAY 30, 2023
New research suggests consumers’ payment method choice can depend on what they’re buying, especially if it’s a guilty-pleasure purchase.
Payments Dive
MAY 30, 2023
New research suggests consumers’ payment method choice can depend on what they’re buying, especially if it’s a guilty-pleasure purchase.
Accenture
MAY 31, 2023
While central banks are under scrutiny these days thanks to rising interest rates and economic uncertainty, they’ve always played a fundamental role in the modern financial services system. For a closer look at the challenges and opportunities they face amid today’s breakneck pace of digital change, I’m turning my blog over to my colleagues Rohit… The post It’s now or never: Time for central banks to embrace change appeared first on Accenture Banking Blog.
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Perficient
JUNE 1, 2023
As the financial services industry continues to evolve, companies are looking for ways to stay ahead of the competition and increase their market share. One way to do this is by leveraging the power of generative AI. Generative AI is an advanced form of artificial intelligence that can create content from scratch, taking the burden off of manual labor and allowing companies to focus on their core business.
South State Correspondent
MAY 30, 2023
The yield curve is currently inverted, and the FOMC may take a pause at its next meeting in June. Uncertainty about the evolution of the economy and the path of future interest rates and the unusual inverted yield curve shape affords a prime opportunity for bankers to provide sound, trusted advice to clients. This is the time for bankers to offer loan structuring solutions to help customers solve business problems, mitigate risk, and manage balance sheets and cash flows.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Payments Dive
MAY 31, 2023
Payments companies cutting staff and revamping cost structures could make them a more attractive target for acquirers, a QED Investors partner said.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Perficient
MAY 31, 2023
Open-Source vs. Proprietary Software – What’s the Difference? To thoroughly grasp what open source is, one should understand what it is not. Open source is not restricted by licensing agreements, and the user behind open-source software is not forbidden to change, edit, study, or redistribute manipulated versions of it. Open-source software grants its users a degree of accessibility that is not possible through its proprietary counterpart.
Abrigo
MAY 30, 2023
Timelines for small business loan data collection and reporting Deadlines for complying with the new CFPB section 1071 rule requirements for financial institutions to collect data on small business loan activities. You might also like this one-page summary of key dates and deadlines for complying with the 1071 rule. DOWNLOAD Takeaway 1 The effective date of the CFPB's new rule based on Section 1071 of the Dodd-Frank Act is June 28, 2023.
Payments Dive
MAY 30, 2023
The modern card-issuing company is closing its outpost in Australia as part of its cost-cutting campaign.
Gonzobanker
JUNE 1, 2023
A recent Gallup survey notes 48% of Americans are worried about the safety of their money in banks. How worried are bank boards? So Gonzo Bankers, are you feeling like the worst of the banking chaos is behind you, or are you peering around the corner like you’re in a classic horror-movie scene? Lately, it feels like a “B” movie where the villain has just been slain and you’ve let your guard down only to have the villain open their eyes!
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
ATM Marketplace
JUNE 2, 2023
Valley Bank recently made a major digital transformation. Brad Cooper, editor of ATM Marketplace, spoke with Daniel Brown, editor of Digital Signage Today, about what this means for the banking industry as a whole.
BankUnderground
JUNE 1, 2023
Sangyup Choi, Tim Willems and Seung Yong Yoo How does monetary policy really affect the real economy? What kinds of firms or industries are more sensitive to changes in the stance of monetary policy, and through which exact channels? Despite advances in our understanding of the monetary transmission mechanism, existing studies have not reached a consensus regarding the exact mechanics of transmission.
Payments Dive
JUNE 1, 2023
The tech behemoth is adding features that will let consumers stuff more information, such as healthcare insurance credentials and state IDs, into its digital wallet.
BankInovation
JUNE 1, 2023
The arrival of ChatGPT and similar products has reignited a decades long debate about whether advanced automation, supported by artificial intelligence, will usher in the “end of work,” leading to mass layoffs as businesses replace humans with machines. The artificial intelligence (AI) hype cycle has been building since the 1970s.
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
BankBazaar
JUNE 2, 2023
Since the RBI announced the withdrawal of ₹2,000 notes, questions and concerns flood social media platforms. In this article, we debunk common misconceptions, guide you through the process of exchanging ₹2,000 notes, and shed light on an alternative payment method that can ease the transition. Discover how Credit Cards can be a great alternative to cash.
CFPB Monitor
JUNE 2, 2023
The CFPB has issued an “ Issue Spotlight ” titled “Analysis of Deposit Insurance Coverage on Funds Stored Through Payment Apps.” The report was accompanied by a consumer advisory on payment apps. Issue Spotlight. To explain its focus on deposit insurance coverage of funds stored on payment apps (or P2P platforms), the CFPB points to the recent crypto asset platform collapses and bank failures and the growth of non-traditional financial services platforms. .
Payments Dive
JUNE 2, 2023
The federal agency told consumers that money sitting in uninsured accounts, such as some offered by PayPal, Venmo and Cash App, could be at risk.
SWBC's LenderHub
JUNE 1, 2023
Everything happening in our economy today hinges on inflation. If inflation continues to fall quickly, robustly, and smoothly, we can expect the U.S. economy to rebound well. Consider it a softish landing, as the Fed continues to work on lowering inflation rates by raising interest rates. But if inflation refuses to come down as quickly as economists would like, that may put pressure on the Fed to continue raising rates—and keep them elevated longer.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
BankBazaar
JUNE 2, 2023
Since the RBI announced the withdrawal of ₹2,000 notes, questions and concerns flood social media platforms. In this article, we debunk common misconceptions, guide you through the process of exchanging ₹2,000 notes, and shed light on an alternative payment method that can ease the transition. Discover how Credit Cards can be a great alternative to cash.
CFPB Monitor
JUNE 1, 2023
We are pleased to report that Ballard Spahr’s Consumer Financial Services Group has once again received the highest national ranking from Chambers USA: America’s Leading Lawyers for Business. The Group was ranked in the highest tier nationally in the Compliance category of Financial Services Regulation: Consumer Finance. The Group was also ranked nationally in the categories of Litigation and Enforcement & Investigations.
Payments Dive
MAY 31, 2023
ACI has appointed its interim CEO and one-time board chairman, Thomas Warsop, as its next CEO, after pushing out its former CEO late last year.
American Banker
JUNE 2, 2023
Americans are going to invest in crypto no matter what politicians and regulators think. So, it would be better to keep crypto exchanges in the U.S., and under SEC supervision, than to drive them overseas.
Advertiser: Data Robot
The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.
BankBazaar
MAY 30, 2023
Travelling abroad soon? Don’t leave without knowing the new TCS rule applicable on Credit Cards, forex cards, debit card transactions, and currency purchases. There is some unfortunate news for travellers who use international Credit Cards while abroad. The Reserve Bank of India (RBI) has included international Credit Card transactions under the Liberalised Remittance Scheme, and as a result, every dollar spent abroad will now incur a 20% Tax Collected at Source (TCS).
CFPB Monitor
JUNE 1, 2023
At the end of March 2023, the CFPB issued its long-awaited final rule to implement Section 1071 of the Dodd-Frank Act. Section 1071 amended the Equal Credit Opportunity Act to require financial institutions to collect and report certain data in connection with credit applications made by small businesses, including women- or minority-owned small businesses. .
Payments Dive
JUNE 1, 2023
The multi-year partnership allows Worldpay’s merchant clients to integrate Affirm’s BNPL options at checkout.
American Banker
JUNE 2, 2023
More than half of U.S. consumers now use digital wallets, according to new data from J.D. Power. But PayPal and Apple Pay have a huge lead over rivals, and are already experienced combatants in the battle for consumers' spending.
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
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